27 Oct 2021
Problem 24
Page 469
Section: CRITICAL THINKING QUESTIONS
Chapter 19: The Macroeconomic Perspective
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27 Oct 2021
Introduction
GDP or gross domestic product is a measure to quantify the value creation in an economy. This value is considered in the form of the production of goods and services in the market. The calculation commonly takes the form of real and nominal GDP and the difference is created by the exclusion and inclusion of inflation respectively.
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